Saks Global estimated its assets and liabilities both fall within a range of US$1-billion to US$10-billion, according to court filings with the U.S. Bankruptcy Court for the Southern District of Texas.Brendan McDermid/Reuters
The U.S. department store company that was split off from Hudson’s Bay Co. a little over one year ago – just weeks before Canada’s oldest retailer began insolvency proceedings – has now filed for bankruptcy protection, compounding a retail industry catastrophe that has ravaged some of the sector’s biggest names.
Saks Global Holdings LLC, which owns luxury retailers Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, was created in December of 2024 when company HBC LP acquired…